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Archive for August 18, 2014

Get Your Kids Into Private Education Without Dipping Into College Funds

Public schools aren’t for every child. A lot of parents are looking for a way to prep their children for ivy leagues school while many others want to address their children’s special interests. No matter the reason you choose to remove your child from the public school system and enter them into the world of private school there will always be the enormous price tag looming in the back of your mind. If you’re on a tight budget then private schooling might not even be an option for your children. However, there are many ways you can cut down on the price of tuition so your children can be given the opportunities you desire. These ten tips will give you a helpful guide to finding new ways to save money on tuition so you can get back to your normal expenditures without the extra stress of these costs.
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1. Look for scholarships/grants
You might be surprised as to how many scholarships and grants are available for children that attend private schools. In fact, when you apply to the school you can talk to the financial aid office about potential grants just as you would if your child was entering college. There’s a lot of grants available for lower income families so don’t be afraid to apply. After all, every little bit helps, so even if you’re only granted enough for help with books it should take a little burden off of the price. There are also a lot of scholarships available for a variety of students. If your child is planning on going to a school that is talent based then you may want to apply for these specific scholarships. The scholarships might automatically be given to you via your schools acknowledgment programs or you may have to have you student perform in order to be considered. Many scholarships are grade based so if your child has strong grades and extra curricular activities then apply to as many as possible. There are also scholarships designed for special needs students whose parents might not be able to afford the school otherwise.

2. Negotiate Payment Plan
When it comes to paying for your tuition a lot of schools might ask you to pay everything up front. This is usually only a preference and if you meet with their financial department they should be able to work out a payment plan that will help you become less financially burdened. By working up a payment plan you can easily budget in the cost instead of worrying about finding a way to come up with the money straight away. A lot of parents may even feel the need to take out a loan in order to pay for the schooling. This will only force you to pay more for the tuition because of the interest costs. A lot of the time working out a payment plan will also help you find more scholarships and other financial help that will ease the burden even more.

3. Reward Systems
A lot of schools have set up deals with local companies that can help you pay for your tuition little by little. Try to make an appointment with your school and talk about reward programs and how you can work to earn some discounts on your child’s tuition fees. Some schools will even utilize a special card. The card is usually linked to gas stations, grocery stores and other local merchants. When you shop in these locations a tiny percentage of your purchase goes back to your child’s tuition. It might not take a whole lot of money off of your tuition, but every little bit can help. Some schools will also work with referral programs. If you can talk your friends and family about considering the school then you may end up getting money back on your tuition when they enroll. Every school is different though, so make sure you ask so you don’t miss out on great deals.

4. Utilize Tax Credits
Your state charges you taxes for schooling, but since you’re actually paying for your child to attend a private school you should be able to get a bit of a refund. Talk to your accountant about this when you go in to file taxes and see if you qualify. Make sure to bring in your tuition bills as well as any receipts you might have for school related purchases. For some household’s this refund might not be possible, but for many it is a possibility. If your family does qualify for the refund then don’t spend it where you shouldn’t. Instead, try to find a savings accounts with a good interest rate and deposit it there. When the next school year rolls around the money should have grown which will allow you to pay for tuition more efficiently, or at least purchase school related items.

5. Voucher Programs
A lot of students with special needs are forced into private schools because their public school simply can’t meet their needs. For these students there is often a small amount of state government assistance that might take a bit of the burden off of the parents. If your child is being sent to a private school for this reason then try to find a voucher program for your area. Some school counselors will be able to help you with this, but you may be on your own when it comes to heavy research and application for the vouchers. The vouchers may also be based on financial needs, so you might have to wait awhile before you’re processed. Once approved the vouchers will be given to your school to either pay of your child’s tuition or at least put a dent in the amount you do owe. Of course, not every state offers these vouchers, so if you’re in a state that doesn’t try to write to your senator. The more people you can get to protest the issue the more likely you’ll be to get the vouchers you need for your child’s success.

6. Trade in Time
A lot of schools tend to be a little short staffed, especially when it comes to activities. Private schools tend to have even fewer volunteers because the parents assume the school can take care of everything since they charge the students a tuition price. So, if you’re looking to help with tuition then talk to your schools and ask if you can volunteer time to help take off some of the tuition price. This can be especially useful if you have a special talent that the school might need. Talk about incorporating a craft or dance class for the kids, or coaching a sport for the school. If you have mechanical skills then you might consider doing part time maintenance skills for the school. This might be especially helpful in the technology department. You might also ask if the school needs chaperons for events or field trips as this is a big area where there is a shortage of parents. No matter what you can offer the best thing you can do is ask, because you never know just what your school might need.

7. Research School
Although it might seem like a no brainer you should always research any school you consider sending your child to. You should look for more than simple academics and reputation though. A lot of schools have reviews that would impress any hopeful academic, but the thing is they might not be right for your student. Academics are very important, but every student is different. You should try to learn the teaching methods and curriculum plans before you decide on the school. This will ensure your child will get your money’s worth at school and won’t get lost in the teaching method. It will also ensure your child won’t fail out of the school which wouldn’t help you financially at all. Some schools will have a much higher tuition cost due to reputation though. If you can get the same education at an institute with a lower price then why should you go with the school that is going to leave you in a financial burden. If you’re still unsure about the school ask to take a tour or see if your child could have a sit in day where he or she checks out the school first hand.

8. Fundraiser
One way to help ease a lot of the troubles of the tuition is to work on a fundraiser or two to earn a little extra money. This could be a family activity, especially in the summer months. There are so many different fundraiser you could try to help you earn some money. A car wash is usually a pretty popular option and is a great way to keep cool during the summer months. If you’re not sure about finding a location to host your car wash then consider something a little smaller. You can always ask a local grocery store if you can set up a bake sale to sell some of your homemade treats. Lemonade is also a good way to have the kids help you earn some money. If you’re looking for a larger scale fundraiser then try to host a yard sale after clearing the house of items you don’t necessarily want or need. These are only a few simple ways to host fundraisers as individuals. Your school might also have a few ways for your to fundraiser to help out your tuition. Selling popcorn and chocolate are some of the common ways to earn some money towards your final tuition costs.

9. Always Save
You don’t have stick to saving large sums of money at once. Instead try to save a little every day. This can be as simple as cutting back on your lunch money or dropping your change into a jar. One simple way to get the money to add up fast is to add a jar that people have donate to when they do something wrong. This will fill up quickly and will teach your family a few lessons in behavior, so its a win win situation. You can also set aside a small amount of money each payday from your entertainment or splurge fun. With a small rainy day savings you should be able to add some extra money to your tuition fees so you can pay them off a little faster.

10. Minimize Additional Costs
There’s a lot of add ons when it comes to schools that can be significantly reduced. For instance, transportation to and from school can be cut down my taking a bus or carpooling. This is better for the environment anyway and will help cut down on individual transportation costs. School books can be purchased used online if need me. There’s also programs that allow you to borrow books. If you’re having trouble with a book then talk to your school or the specific teacher and ask if there’s any way your child could borrow a book for the term. This could ease so much of the cost as books can run hundreds of dollars. Another common expenditure is lunches. Try to pack a lunch for your child if possible, or sign the child up for reduced lunches if you qualify. Uniforms can also be handed down from sibling to sibling or bought used from a yard sale or other students. Just try to get creative as much as possible with your school purchases.

Private school can be a great way to get your student a head start in the academic world. However, the price tag might scare you away from the schools altogether. This school year you may want to give the private school a chance. With these simple tips you may find that affording the education your child needs is only a few steps away.